I call myself out of this game.

[cedivad]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

[1715278476]

1715278476

[jl2012]

Since 99.99% of the world population have never heard bitcoin, it's definietly far away from everyone thinks that he is gonna be rich

[doke]

what's the reason anybody places any investments if anything, if not for some profit incentive?

[Le Happy Merchant]

Nobody makes bets they plan on losing. They may plan for losing, but not on losing.

[hathmill]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

I am curios, are you going to sell all of your coins? Maybe sell enough to cover your initial investment? Perhaps selling 50% or so as to make a little money while you are at it?

Personally I am still in the game, but not fully invested. My thinking goes, you never knows what going to happen so you never want to be totally in or totally out. Always a stake and then changing the amount at risk depending on the fear or euphoria. Thats just me... what is your game plan?

[solex]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

My question is what were you looking for?

You must have been following and supporting bitcoin for some time. Now, it is getting real traction outside the crypto-community, so surely this is good? An internet-based alternative to inflated and debased fiat is finally becoming available to all.  That is a worthy goal in itself.

The market is separate from this goal, and of course it will go up long-term, unless a mathematical flaw is found in SHA-256 or some such setback. If you are not interested in either then what were you looking for in bitcoin in the first place?

[piramida]

It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

The beauty of bitcoin is that it continues to serve it's purpose even when all speculators are mad. So as long as the dev team is not mad, we're doing fine!

But something tells me, such topics are usually started by people who sold early and didn't get an expected correction (missed the one yesterday?). Feel bad for you. Not planning to get rich speculating bitcoins btw, that would be silly, but everybody here is just glad to see an idea that they believe in gaining solid traction. Little monetary stimulation only adds to the joy.

[BrannigansLaw]

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

[cedivad]

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

I have more and I will hold them for the next 20 years. Because I belive.

But what will happen to the random guy that invested more than he can lose @ 20$? A lot of people will be hurted by this bubble, this is why I don't want to invest now and I call myself out.

[piramida]

people who invest in a crazily risky asset such as BTC without being ready to hold it for years are not very smart, and it has always been a rule that stupid people have to pay for the smarter ones. always been like this and it's not changing.

[humanitee]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

I have more and I will hold them for the next 20 years. Because I belive.

 

[cedivad]

I did not contradict myself. "The game" for me is buying now during this mad rally. A lot of people are doing it. They are "pretty confident to be the new wealthy elite" etc.
Bitcoin isn't going anywhere, I will just wait in case I decide to invest more.

[zoinky]

I'll take those coins off your hands!

[sublime5447]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

+100 I called myself out of this game when it hit 19.8 the last time I bought was 17.5. BTC is looking self destructive to me right now.

[John (John K.)]

I remember this drift when the prices reached parity with the dollars. Had a ton of those 'this is a bubble' threads back then....

[mr chong]

I am not sure why people keep saying this spike came out of no where and it is just a big bubble. If you look back to last month you will see this spike up from $12-13 came shortly after the big CES event where for the first time many people heard about bitcoins. Also wasn't this the first year bitcoins had a real presence at the show?

In todays fast pace digital age all it takes is a few new people discovering bitcoins for the first time to buy a few and then asks their friends if they own any and before long hundreds of new people are hearing about bitcoins and looking to pick up a few.

Then you add China into the mix where more people are finding out about this new e-currency then you look at the mess in Europe with the Euro barely holding on for dear life and it is easy to see why more people are looking for someplace else to park some of their money.

With the whole world connected through the Internet and its social network sites it does not take long for something to go from basically unknown to the masses to being the next big thing in a very short period. Is bitcoin the next big thing in this digital age? No way to know for sure but thanks to exposure like the CES events more people then ever are finding out about it.

[molecular]

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

I have more and I will hold them for the next 20 years. Because I belive.

But what will happen to the random guy that invested more than he can lose @ 20$? A lot of people will be hurted by this bubble, this is why I don't want to invest now and I call myself out.

My dad used to say: "You can do whatever you want, you just have to live with the consequences".

Did I put in more than 5% of my net worth into Bitcoin when I first heard about it and invested? No! Do I regret not putting in more? Hell yes! I suffer the consequences.

People have to re-learn to be responsible for themselves and not come crying for the state or whoever when things don't go their way. Bitcoin can help them learn. It's a good thing.

[sounds]

The number of people involved in bitcoin has gone up a lot recently.

That can lead to unpredictable swings but over time it will drive the price up.

[ArticMine]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

This would make a lot of sense were it not for the post below:

Since 99.99% of the world population have never heard bitcoin, it's definietly far away from everyone thinks that he is gonna be rich

+1 to jl2012's post

[mccorvic]

So, OP is afraid that he'll make too much money?

[RodeoX]

I'm going to be "in the game" as long as I need to buy things on the internet, which is likely forever.

[cedivad]

So, OP is afraid that he'll make too much money?

Afraid of easy money. Bitcoin looks like to be easy money right now, and that to me looks like the biggest red alert for a bubble to explode.
Price keeps doubling... Everyone will be rich soon.

[adamstgBit]

[rpietila]

Did I put in more than 5% of my net worth into Bitcoin when I first heard about it and invested? No! Do I regret not putting in more? Hell yes! I suffer the consequences.

When I first heard about bitcoin, I could have bought it, lol. No, seriously, I could have bought maybe 5% of the supply and drive the price up 10000%.

Too bad, somebody else did. I suffer the consequences.

[ajk]

Did I put in more than 5% of my net worth into Bitcoin when I first heard about it and invested? No! Do I regret not putting in more? Hell yes! I suffer the consequences.

When I first heard about bitcoin, I could have bought it, lol. No, seriously, I could have bought maybe 5% of the supply and drive the price up 10000%.

Too bad, somebody else did. I suffer the consequences.

People say the same thing with apple and google stock,
many missed out on the chance of millions from almost nothing,

Something sounds similar...

[piramida]

google stock only went up 7.8 times up, so no, nobody missed nearly as much as with bitcoins

[Littleshop]

google stock only went up 7.8 times up, so no, nobody missed nearly as much as with bitcoins

While from the penny area nothing is going to beat bitcoin, From the dollar area where the ball really started rolling long term AAPL owners did better.

Nothing will beat bitcoin going from less then a fraction of a penny to $25, except....... bitcoin!

[mccorvic]

So, OP is afraid that he'll make too much money?

Afraid of easy money. Bitcoin looks like to be easy money right now, and that to me looks like the biggest red alert for a bubble to explode.
Price keeps doubling... Everyone will be rich soon.

Yes, easy money that people have spent years working with, buying, selling, starting business for. SO EASY!

[The-Real-Link]

I certainly understand the scared sentiment but true, things don't need much time to become well-known today.

I mean (ok slightly off-topic), just yesterday, I had heard about Ultra Ever Dry, but they had put a video on Youtube only 3 months ago.  It went from like 500K views or so I heard to being featured on a few blogs, then BAM. 3 million views.

Or heck, any music sensation video for that matter.

The point is that sure, while it is easy to worry and have too much confidence, there's just a finite supply of coins and tons of demand and awareness at this point to slow it down.

[notig]

A market where everyone thinks that he is gonna be rich in the next few years cannot work.
It made sense for me to invest in the past when I felt alone in this tough, but now, now everyone went mad.

"everyone" and the current market are a fraction of what the future market will be. Saying that you don't think early adopters could get rich basically means you are saying the price can't continue to rise. If the price can't continue to rise what you are basically saying is that the future market will not grow. I'd bet against that. With a larger market in the future and a fixed supply... there will be an automatic increase in demand. Price rise is inevitable with market growth.

[Timo Y]

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

I have more and I will hold them for the next 20 years. Because I belive.

But what will happen to the random guy that invested more than he can lose @ 20$? A lot of people will be hurted by this bubble, this is why I don't want to invest now and I call myself out.

If you think this is a bubble, and if you have bitcoin savings, the rational thing to do would be to sell part of your bitcoins on the way up, and buy them back once the bubble pops.

That would help to dampen the bubble.

By "calling yourself out" you are neither helping yourself nor the bitcoin economy.

[xxjs]

Just hold onto 50btc. 1 block. 1/420,000. Then if bitcoin lifts off, you're rich.

I have more and I will hold them for the next 20 years. Because I belive.

But what will happen to the random guy that invested more than he can lose @ 20$? A lot of people will be hurted by this bubble, this is why I don't want to invest now and I call myself out.

You call yourself out, but hold more than 50. So you don't listen to yourself? You have to yell louder.

[CurbsideProphet]

But what will happen to the random guy that invested more than he can lose @ 20$?

That person will learn a valuable, albeit painful, lesson and hopefully will not repeat that mistake in the future.

[solex]

But what will happen to the random guy that invested more than he can lose @ 20$?

That person will learn a valuable, albeit painful, lesson and hopefully will not repeat that mistake in the future.

How many people spend $20 on cigarettes, or a horse race, or a bottle of whiskey?
All these are more of a "mistake" than an investment with a possibility/probability of making a profit. You can't be worried about other people's decisions.

[ajk]

google stock only went up 7.8 times up, so no, nobody missed nearly as much as with bitcoins

You are not to bright if you thought that was my main point

When I first heard about bitcoin, I could have bought it, lol. No, seriously, I could have bought maybe 5% of the supply and drive the price up 10000%.

Too bad, somebody else did. I suffer the consequences.

my main argument was that during the run up of apple and google there were people who said exactly this

im saying bitcoin is similar, you still wanna throw that bet down  you never replied to that you nancy

[piramida]

You are not to bright if you thought that was my main point

Not quite bright yourself, or maybe unfamiliar with markets, if you think GOOG play was a "chance of millions from almost nothing". No, it never was. I know you just can't pick the words right, but don't make that my problem suddenly.

[Spaceman_Spiff]

Relevant chart:

I own a airplane ??   Sweeet !!!!

[damnek]

Relevant chart:

I own a airplane ??   Sweeet !!!!

I guess the demographic here is early bitcoin adoptors 

[Jutarul]

So, OP is afraid that he'll make too much money?

Afraid of easy money. Bitcoin looks like to be easy money right now, and that to me looks like the biggest red alert for a bubble to explode.
Price keeps doubling... Everyone will be rich soon.

So you expect a consolidation soon?

Asset prizes tend to grow from undervalued to overvalued (at that time) and then either consolidate to a lower price (where people absorb loses) or stay at a higher price point until the valuation has caught up (which means the bubble didn't pop).

Anyway - if you're longterm bullish, it always makes sense to buy more bitcoin - but at a constant USD amount per month.. Buying leveraged is gambling.

[solex]

Here is a slightly more updated technology adoption chart.
It makes the point that newer technologies have a faster mass adoption phase.
Bticoin is the newest of all. Even nanotechnology has an earlier beginning.

[rpietila]

When I first heard about bitcoin, I could have bought it, lol. No, seriously, I could have bought maybe 5% of the supply and drive the price up 10000%.

Too bad, somebody else did. I suffer the consequences.

my main argument was that during the run up of apple and google there were people who said exactly this

im saying bitcoin is similar, you still wanna throw that bet down  you never replied to that you nancy

No, I never had the money to buy the entire market cap of either Apple or Google. With Bitcoin, many of us did. Now THAT is a remorse.

[cedivad]

So, OP is afraid that he'll make too much money?

Afraid of easy money. Bitcoin looks like to be easy money right now, and that to me looks like the biggest red alert for a bubble to explode.
Price keeps doubling... Everyone will be rich soon.

So you expect a consolidation soon?

Asset prizes tend to grow from undervalued to overvalued (at that time) and then either consolidate to a lower price (where people absorb loses) or stay at a higher price point until the valuation has caught up (which means the bubble didn't pop).

Anyway - if you're longterm bullish, it always makes sense to buy more bitcoin - but at a constant USD amount per month.. Buying leveraged is gambling.

I agree with you... Completely. Yes, I except and will wait for a consolidation. The price might even to up to 50 or 100 before that for what I care.

[damnek]

<...>

Here is a slightly more updated technology adoption chart.
It makes the point that newer technologies have a faster mass adoption phase.
Bticoin is the newest of all. Even nanotechnology has an earlier beginning.

This also fits in with Ray Kurzweil's observation that technological progress is exponential.

[Le Happy Merchant]

google stock only went up 7.8 times up, so no, nobody missed nearly as much as with bitcoins

Missed?





I may have only been 11, but I saw a good thing coming.

I feel even better about Bitcoins though, long term.

[piramida]

I may have only been 11, but I saw a good thing coming.

I feel even better about Bitcoins though, long term.

And you still hold? Congratulations then. I'm still bitter at myself for exiting at 400.

[Richy_T]

Relevant chart:

I own a airplane ??   Sweeet !!!!

Sure you do.



You should ask for a ride.

[Richy_T]

When I first heard about bitcoin, I could have bought it, lol. No, seriously, I could have bought maybe 5% of the supply and drive the price up 10000%.

Too bad, somebody else did. I suffer the consequences.

my main argument was that during the run up of apple and google there were people who said exactly this

im saying bitcoin is similar, you still wanna throw that bet down  you never replied to that you nancy

No, I never had the money to buy the entire market cap of either Apple or Google. With Bitcoin, many of us did. Now THAT is a remorse.

The market cap is an illusion anyway. If you sold all bitcoins, you would get much less than the market cap, if you bought all bitcoins it would cost you much more (many, many times more) than the market cap.

[Richy_T]

I may have only been 11, but I saw a good thing coming.

I feel even better about Bitcoins though, long term.

And you still hold? Congratulations then. I'm still bitter at myself for exiting at 400.

You took profit. That's a win whichever way you slice it.

[piramida]

You took profit. That's a win whichever way you slice it.

True. Should've moved all that profit straight into bitcoin though. Yeah we're all so smart in the future Instead stuck in some crappy chinese stock that may takes years to recover.

[rpietila]

You never know whether cashing out was profitable, until you have squandered away all the money. Before that, it's always speculation, and fortunes do change.